History

Since incorporation in 1995, FP Canada™ has become the premier standards-setter for financial planning in Canada, elevating the standards of the CFP® designation and establishing CFP certification as the standard for financial planners. Explore key milestones in FP Canada’s history.

 

2021

  • Tashia Batstone is named FP Canada's President & CEO, following Cary List's retirement

 

2020

  • The FP Canada Institute launches new education offerings: QAFP Professional Education Program and the first continuous development program - the Advanced Certificate in 3H Financial Planning™.

  • The FP Canada Institute CFP Professional Education Program globally recognized as it is awarded Bronze medal in the prestigious Best Certification Program category by Brandon Hall Group.

  • Qualified Associate Financial Planner™ certification is introduced.

 

2019

  • Financial Planning Standards Council becomes FP Canada™: a national professional body dedicated to advancing professional financial planning. FP Canada’s expanded new scope includes the FP Canada Institute™ division, committed to elevating the practice of financial planning.

  • FP Canada adopts a tagline for QAFP certification: Where Confidence Begins™.

  • The FP Canada Institute launches new education offerings: Introduction to Professional Ethics (IPE) and CFP Professional Education Program.

 

2018

  • FPSC announces the creation of Qualified Associate Financial Planner™ certification (QAFP™ certification), to replace FPSC Level 1® certification in January 2020.

  • FPSC announces new paths to certification, taking effect beginning in January 2020. New paths will enrich the knowledge and skills of certificants through new Professional Education Programs and will streamline the path to CFP® certification by eliminating the requirement for candidates to earn an initial certification to become eligible for CFP certification.

  • FPSC announces that Institut québécois de planification financière (IQPF) will become a Proud Partner, laying the groundwork for creating a unified Canada-wide financial planning profession.

  • FPSC develops a new CFP professional value proposition and a new tagline that concisely conveys the value of working with a CFP professional: Live Life Confidently™.

  • FPSC celebrates the 10th annual Financial Planning Week.

  • FPSC Standards Panel releases updated Standards of Professional Responsibility, which take effect January 1, 2019.

  • FPSC introduces digital credentials for CFP professionals, allowing for real-time confirmation of a CFP professional’s certification status.

 

2017

  • FPSC releases the Financial Planning Body of Knowledge (FP-BoK), an unprecedented authoritative compendium of all the knowledge expected of CFP® professionals and FPSC Level 1® certificants. Together with the revalidated FPSC Competency Profile, the FP-BoK serves to further define the knowledge and competencies expected of CFP professionals and FPSC Level 1 certificants in Canada, and the differences between the two.

  • FPSC releases the FPSC Competency Profile, a revalidation of the CFP Professional Competency Profile.

 

2016

  • FPSC provides extensive feedback to the Ontario government’s Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives, continuing to work with the Ontario government to implement a solution to best protect consumers.

  • FPSC and the Insurance Council of British Columbia sign a Memorandum of Understanding that leverages each organization’s processes to provide more effective oversight and strengthen consumer protection in BC.

  • FPSC enhances its governance structure to maintain the continued rigour, efficiency and relevance of FPSC’s work and a better alignment of responsibility and accountability. Among the key changes is the creation of an independent Standards Panel, composed of financial planners and members of the public, to oversee all financial planning standards.

  • FPSC names personal finance educator and author Kelley Keehn to the new role of FPSC Consumer Advocate. She is interviewed more than 100 times by the media about FPSC research, the importance of getting professional financial planning help and how to find a qualified planner.

 

2015

  • FPSC and IQPF publish the Canadian Financial Planning Definitions, Standards & Competencies, the first unified, definitive source on financial planning definitions and professional financial planning standards in Canadian history.

  • FPSC joins IQPF in the development of unified Projection Assumption Guidelines to aid in making medium and long-term financial projections.

  • FPSC adds a Continuing Education (CE) requirement in Professional Responsibility for CFP® professionals and FPSC Level 1® Certificants in Financial Planning.

  • FPSC launches FinancialPlanningForCanadians.ca, a website providing information and product-free advice to help consumers use financial planning to navigate various life stages.

 

2014

  • FPSC makes enhancements to the path to CFP certification, including the introduction of the FPSC Level 1 Certification in Financial Planning and new Routes to CFP Certification.

  • The Coalition for Professional Standards for Financial Planners presents recommendations for a professional model for self-regulation of financial planners to the Ontario Ministry of Finance during their consultations to review the merits of tailored regulation of financial planners.

  • FPSC launches the Here’s the Plan™ campaign, providing a variety of tools that CFP professionals can use to help clients understand the value of financial planning and of working with a CFP professional.

  • FPSC President & CEO Cary List is appointed to Canada’s first National Steering Committee on Financial Literacy.

 

2013

  • FPSC Board of Directors adopts organizational purpose: To instill confidence in the financial planning profession.

  • FPSC President & CEO Cary List is named Chair of the Coalition for Professional Standards for Financial Planners, a group comprised of members from FPSC, Canadian Institute of Financial Planners (CIFPs), Institute of Advanced Financial Planners (IAFP) and Institut québécois de planification financière (IQPF).

  • FPSC Foundation is renamed Financial Planning Foundation as it enters into partnership with Institut québécois de planification financière (IQPF) to further develop the range and scope of research funded.

 

2012

  • FPSC introduces the Continuing Education Approval Program.

  • FPSC implements a new governance structure, eliminating the member organization framework.

  • Eighteen firms are represented at FPSC's inaugural Firms Meeting.

 

2011

  • FPSC releases the Standards of Professional Responsibility for CFP Professionals and FPSC Registered Candidates which includes the FPSC® Code of Ethics, FPSC® Financial Planning Practice Standards, FPSC® Fitness Standards and FPSC® Rules of Conduct.

  • The Fellow of FPSC™ program launches to recognize individuals who have helped advance FPSC's vision.

  • FPSC announces its role as one of five members of the Coalition for Professional Standards for Financial Planners.

  • FPSC and IQPF announce common principles for Codes of Ethics for planners.

 

2010

  • FPSC implements enhanced requirements for the CFP certification program. These include transition to a two-stage exam, the addition of an FPSC-Approved Capstone Course and a three-year work experience requirement.

 

2009

  • Financial Planners Standards Council is renamed Financial Planning Standards Council to better reflect the purpose and vision of the organization.

  • FPSC declares inaugural Financial Planning Week across Canada.

  • FPSC holds its first Financial Planning Vision 2020 symposium in Toronto, issuing a call to action to enact meaningful change for the benefit of all Canadians.

  • FPSC and Institut québécois de planification financière (IQPF) sign a landmark memorandum of understanding, simplifying the process for CFP professionals to practice in Quebec and for Pl. Fin. (financial planners) to practice in the rest of Canada.

 

2008

  • FPSC implements a new governance structure, appointing first Public Director to represent the interests of members of the public using financial planning services.

 

2007

  • CFP Professional Competency Profile is adopted as the framework for the international standard of competence for CFP professionals worldwide.

  • FPSC launches annual Educator Conference to encourage dialogue with educators.

  • Cary List is named FPSC's President & CEO, following retirement of founding President Don Johnston.

 

2006

  • FPSC creates the Donald J. Johnston Award to recognize individuals who have made significant contributions to the financial planning profession.

  • FPSC produces the CFP Professional Competency Profile, outlining the abilities, skills and knowledge necessary for CFP professionals to serve the financial planning needs of clients.

 

2005

  • FPSC Foundation is created to carry out independent, unbiased financial planning research.

 

2004

  • FPSC launches the FPSC® Financial Planning Practice Standards, to be adhered to by all CFP professionals.

 

2003

  • FPSC launches Professional Competency Analysis: Reassess CFP professional competency profile that sets standards for the profession, and guides development of CFP Examination and guidelines for financial planning curriculum.

  • FPSC launches national awareness campaign on television.

 

2002

  • More than 55% of financial advisors working at the 14 largest planning firms in Canada hold the CFP credential.

 

1999

  • FPSC surveys Canadians to provide first benchmark of consumer understanding of financial planning as a professional service.

  • FPSC joins IQPF in the development of unified Projection Assumption Guidelines to aid in making medium and long-term financial projections.

  • FPSC formalizes complaint review and disciplinary procedures and appoints Director of Standards Enforcement.

  • FPSC commissions independent certification audit and conducts first job analysis, validating veracity of CFP examination and ensuring ongoing relevance of CFP certification.

 

1998

  • Financial Planners Standards Council of Canada becomes the Financial Planners Standards Council (FPSC).

 

1996

  • Financial Planners Standards Council of Canada enters into an agreement with the CFP Board of Standards to become the sole Canadian licensor of the CFP® marks.

 

1995

  • Financial Planners Standards Council of Canada (FPSC) is incorporated as a not-for-profit organization, setting the foundation for the establishment of uniform professional standards for financial planners in Canada.